DAVENPORT & Co LLC Decreases Stock Holdings in Janus International Group, Inc. (NYSE:JBI)

DAVENPORT & Co LLC cut its position in shares of Janus International Group, Inc. (NYSE:JBI - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,155,493 shares of the company's stock after selling 108,365 shares during the quarter. DAVENPORT & Co LLC owned approximately 2.25% of Janus International Group worth $22,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of JBI. Federated Hermes Inc. grew its holdings in shares of Janus International Group by 109.3% during the fourth quarter. Federated Hermes Inc. now owns 4,798 shares of the company's stock worth $35,000 after buying an additional 2,506 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Janus International Group by 42.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,146 shares of the company's stock worth $38,000 after buying an additional 1,544 shares in the last quarter. US Bancorp DE grew its holdings in shares of Janus International Group by 108.8% during the fourth quarter. US Bancorp DE now owns 5,601 shares of the company's stock worth $41,000 after buying an additional 2,918 shares in the last quarter. Group One Trading LLC grew its holdings in shares of Janus International Group by 9,000.0% during the fourth quarter. Group One Trading LLC now owns 9,100 shares of the company's stock worth $67,000 after buying an additional 9,000 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Janus International Group during the first quarter worth about $72,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp lifted their price target on shares of Janus International Group from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Janus International Group currently has a consensus rating of "Hold" and an average target price of $10.00.

Janus International Group Trading Up 0.1%

Janus International Group stock traded up $0.01 during trading on Thursday, reaching $8.99. The company had a trading volume of 516,221 shares, compared to its average volume of 1,883,605. Janus International Group, Inc. has a 12-month low of $5.99 and a 12-month high of $15.24. The stock's 50 day moving average price is $8.07 and its two-hundred day moving average price is $7.75. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.69 and a beta of 1.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.21 and a current ratio of 2.59.

Janus International Group (NYSE:JBI - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. Janus International Group had a net margin of 5.49% and a return on equity of 13.38%. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $200.73 million. During the same period in the previous year, the firm earned $0.21 earnings per share. Janus International Group's revenue was down 17.3% compared to the same quarter last year. As a group, equities analysts expect that Janus International Group, Inc. will post 0.54 earnings per share for the current fiscal year.

Janus International Group announced that its board has initiated a share repurchase plan on Thursday, May 15th that authorizes the company to repurchase $75.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

About Janus International Group

Janus International Group, Inc manufacturers and supplies turn-key self-storage, and commercial and industrial building solutions in North America and internationally. The company offers roll up and swing doors, hallway systems, relocatable storage moveable additional storage structures units, and other solutions.